MIRA INFORM REPORT
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Report No. : |
337563 |
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Report Date : |
21.08.2015 |
IDENTIFICATION DETAILS
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Name : |
CLARIANT MASTERBATCH SHANGHAI CO., LTD. |
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Registered Office : |
No. 88 Lane 4377 Jindu Road, Xinzhuang Industrial Zone, Minhang
District, Shanghai 201108 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
28.11.2003 |
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Com. Reg. No.: |
310000400363715 |
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Legal Form : |
Wholly Foreign-Owned Enterprise |
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Line of Business : |
Manufacturing color masterbatch, plastic coloring and
modified products, selling its owned products, providing related technical service
and after sale service, wholesale, import and export of above products and
similar products, providing supporting business. |
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No. of Employees : |
86 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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China |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CHINA - ECONOMIC OVERVIEW
Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role - in 2010 China became the world's largest exporter. Reforms began with the phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, growth of the private sector, development of stock markets and a modern banking system, and opening to foreign trade and investment. China has implemented reforms in a gradualist fashion. In recent years, China has renewed its support for state-owned enterprises in sectors considered important to "economic security," explicitly looking to foster globally competitive industries. After keeping its currency tightly linked to the US dollar for years, in July 2005 China moved to an exchange rate system that references a basket of currencies. From mid 2005 to late 2008 cumulative appreciation of the renminbi against the US dollar was more than 20%, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing allowed resumption of a gradual appreciation. In 2014 the People’s Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate. The restructuring of the economy and resulting efficiency gains have contributed to a more than tenfold increase in GDP since 1978. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2014 stood as the largest economy in the world, surpassing the US that year... Still, per capita income is below the world average.
The Chinese government faces numerous economic challenges, including: (a) reducing its high domestic savings rate and correspondingly low domestic consumption; (b) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and increasing numbers of college graduates; (c) reducing corruption and other economic crimes; and (d) containing environmental damage and social strife related to the economy's rapid transformation. Economic development has progressed further in coastal provinces than in the interior, and by 2014 more than 274 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of population control policy is that China is now one of the most rapidly aging countries in the world. Deterioration in the environment - notably air pollution, soil erosion, and the steady fall of the water table, especially in the North - is another long-term problem. China continues to lose arable land because of erosion and economic development. The Chinese government is seeking to add energy production capacity from sources other than coal and oil, focusing on nuclear and alternative energy development.
Several factors are converging to slow China's growth, including debt overhang from its credit-fueled stimulus program, industrial overcapacity, inefficient allocation of capital by state-owned banks, and the slow recovery of China's trading partners. The government's 12th Five-Year Plan, adopted in March 2011 and reiterated at the Communist Party's "Third Plenum" meeting in November 2013, emphasizes continued economic reforms and the need to increase domestic consumption in order to make the economy less dependent in the future on fixed investments, exports, and heavy industry. However, China has made only marginal progress toward these rebalancing goals. The new government of President XI Jinping has signaled a greater willingness to undertake reforms that focus on China's long-term economic health, including giving the market a more decisive role in allocating resources. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company
Name & address
CLARIANT MASTERBATCH SHANGHAI
CO., LTD.
NO. 88 LANE 4377 JINDU ROAD, XINZHUANG INDUSTRIAL ZONE
MINHANG DISTRICT, SHANGHAI 201108 PR CHINA
TEL: 86 (0) 21-54426515/22483026/22483077
FAX: 86 (0) 21-54427961
EXECUTIVE
SUMMARY
Date of Registration : november 28, 2003
REGISTRATION NO. : 310000400363715
LEGAL FORM : WHOLLY FOREIGN-OWNED ENTERPRISE
CHIEF EXECUTIVE : Marco Cenisio
(LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : usd 3,199,000
staff : 86
BUSINESS CATEGORY : manufacturing & trading
Revenue : CNY 146,300,000 (AS OF
DEC. 31, 2014)
EQUITIES : CNY 47,660,000 (AS OF DEC. 31, 2014)
WEBSITE : N/A
E-MAIL : N/A
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : FAIRly stable
OPERATIONAL TREND : fairly STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.39 = USD
1
Adopted
abbreviations (as follows)
SC -
Subject Company (the company inquired by you)
N/A – Not
available
CNY –
China Yuan Ren Min Bi
OPERATIONAL
TREND & GENERAL REPUTATION
This section aims at indicating the relative positions of SC
in respect of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
LEGAL STATUS & HISTORY
SC was established as a wholly foreign-owned enterprise of
PRC with State Administration of Industry & Commerce (SAIC) under
registration No.: 310000400363715 on November
28, 2003.
SC’s Organization Code Certificate
No.: 75574883-4
SC’s registered capital: usd 3,199,000
SC’s paid-in capital: usd 3,199,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Legal Representative |
Dominik Von Bertrab |
Hans-Willi Bohnen |
|
2015-8-10 |
Legal Representative |
Hans-Willi Bohnen |
Marco Cenisio |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Clariant (China) Limited (Hong Kong) |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Marco Cenisio |
|
Director |
Jan Kreibaum |
|
Alfred Christian Munch |
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|
Daniel Hug |
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Supervisor |
Lu Jiawei |
RECENT DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Clariant (China) Limited (Hong Kong) 100
------------------------------------------
Date of Registration: March 27, 1975
Registration No.: 0042228
Legal Form: Private
Status: Live
MANAGEMENT
Marco
Cenisio, Legal Representative
and Chairman
-------------------------------------------------------------------
Gender: M
Qualification: University
Working experience (s):
At present, working in SC as legal representative and
chairman
Director
-----------
Jan Kreibaum
Alfred Christian Munch
Daniel Hug
Supervisor
-------------
Lu Jiawei
BUSINESS OPERATION
SC’s registered business scope
includes manufacturing color masterbatch, plastic coloring and
modified products, selling its owned products, providing related technical
service and after sale service, wholesale, import and export of above products
and similar products, providing supporting business.
SC is mainly engaged in manufacturing and selling color
masterbatch, plastic coloring and modified products.
Brand: CLARIANT
SC’s products mainly include: color masterbatch.
SC sources its materials 100% from domestic market. SC sells 95% of its products in domestic market, and 5% to overseas market.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include T/T, L/C and Credit of 30-60 days.
*Major Customer*
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Shanghai Daoxin Chemical Co., Ltd.
Staff
& Office:
--------------------------
SC is known to have approx. 86 staff at present.
SC owns an area as its operating office and factory, but the
detailed information is unknown.
RELATED COMPANY
Baotou Shide Nanhua Chemical Materials Co., Ltd.
Clariant Masterbatch (Beijing) Co., Ltd.
Clariant (Tianjin) Co., Ltd.
Clariant Bohai Pigment Products (Tianjin) Co., Ltd.
Clariant Special Chemicals (Zhenjiang) Co., Ltd.
PAYMENT
Overall payment appraisal: ( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be determined
The appraisal serves as a reference to reveal SC's payments
habits and ability to pay. It is based
on the 3 weighed factors: Trade payment experience (through current enquiry
with SC's suppliers), our delinquent payment and our debt collection record
concerning SC.
Trade payment experience: SC did not provide any name of
trade/service suppliers and we have no other sources to conduct the enquiry at
present.
Delinquent payment record: None in our database.
Debt collection record: No
overdue amount owed by SC was placed to us for collection within the last 6
years.
BANKING
The bank information of SC is not filed in SAIC.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2013 |
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Current assets |
69,561 |
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Long term investment |
0 |
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Fixed assets |
8,665 |
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Intangible assets |
0 |
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Other assets |
2,235 |
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------------- |
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Total assets |
80,461 |
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------------- |
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Current liabilities |
41,649 |
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Long term
liabilities |
0 |
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------------- |
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Total liabilities |
41,649 |
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Equities |
38,812 |
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------------- |
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Revenue |
137,246 |
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Cost of sales |
90,541 |
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Profit before tax |
12,364 |
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Less: profit tax |
37 |
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Profits |
12,327 |
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2014 |
|
Total assets |
97,010 |
|
|
------------- |
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Total liabilities |
49,350 |
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Equities |
47,660 |
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|
------------- |
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Revenue |
146,300 |
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Profits |
8,700 |
Important
Ratios
=============
|
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As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
|
*Current ratio |
1.67 |
-- |
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*Liabilities to assets |
0.52 |
0.51 |
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*Net profit margin (%) |
8.98 |
5.95 |
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*Return on total assets (%) |
15.32 |
8.97 |
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*Revenue/Total assets |
1.71 |
1.51 |
|
*Cost of sales / Revenue |
0.66 |
-- |
FINANCIAL COMMENTS
PROFITABILITY:
FAIRLY GOOD
The revenue of SC appears fairly good in its line.
SC’s net profit margin is fairly good.
SC’s return on total assets is fairly good.
SC’s cost of sales is average, comparing with its revenue.
LIQUIDITY:
AVERAGE
The current ratio of SC is maintained in a normal level.
SC’s revenue is in an average level, comparing with the size
of its total assets.
LEVERAGE:
AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is average.
Overall
financial condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered medium-sized in its line with fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.23 |
|
|
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.72.57 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
NB |
New Business |
-- |
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This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.